Preclinical Economic Studies
WHY IS THIS IMPORTANT?
With rising healthcare costs, medtech developers are under pressure to demonstrate their technology’s superiority against standard(s) of care (SOC) in terms of “value for money” (incremental cost effectiveness).
While these exploratory studies won’t necessarily be used to inform adoption and reimbursement decisions like later-stage models, preclinical economic research can help to identify key cost drivers essential to promoting adoption further down the road.
It is critical that you begin assessing value early.
DID YOU KNOW?
Preclinical economic studies can help prevent investments in a non-cost-effective technology that won’t see adoption.
Findings from preclinical economic studies can be used to alter future R&D activities, help establish potential cost-effectiveness, and inform future marketing efforts and strategic goals.
Speeding time to market and decreasing the cost to commercialize hinges upon maximizing opportunities early in the development period.
HOW WE CAN HELP
While data regarding your technology may be limited during early stages of development, our experts can conduct preclinical economic studies to begin building and assessing the value of your technology.
Evaluating evidence concerning the standard of care (SOC) and/or competing technologies and convening key opinion leaders (KOLs) regarding the likely impact of your technology to estimate expected effectiveness (used to identify parameters that will likely have the largest impact on cost-effectiveness and inform market pricing), we can help you generate evidence and support your value story from early on in your product development lifecycle.
These can give you an early understanding of the advantages, challenges, and barriers to adoption of your preclinical technology.
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Start Building Your Value Proposition Early